The Egyptian Ministry of Petroleum and Mineral Resources announced that the American “Apache” company intends to pump more investments in its concession areas in the Western Desert, to improve the productivity of aging oil wells.
The ministry said in a statement that this includes intensifying research and exploration activities, and making new discoveries in light of the results of the exploration operations, which showed promising petroleum potentials and reservoirs, according to Al-Ahram newspaper.
In this context, the Egyptian Minister of Petroleum and Mineral Resources, Tarek El-Molla, said, during his meeting with the head of “Apache” company, John Christman, that the advanced technologies that the company will provide will open up broader prospects for research and exploration, in deep layers that were not previously possible.
During the meeting, the two sides discussed the company’s fields of work in Egypt in its concession areas, in addition to its plans during the coming period, in light of the great desire of the company to expand its activities in Egypt and increase production.
The two sides discussed ways to develop the work system of the two Egyptian companies “Khaleda and Qarun” joint with “Apache”, in light of the memorandum of understanding signed between the two sides in this framework during the “EGYPS 2022” conference, and activate the merger of the two companies.
For his part, Christman affirmed the company’s commitment to intensifying its activities in Egypt, as the company’s most important work areas in the world, and applying the latest technologies in the fields of research and exploration.
Christman revealed that the productivity of aging wells will be improved to raise production rates and contribute to the implementation of training programs for workers in the petroleum sector, praising the development witnessed by the energy sector in Egypt and the positive steps towards becoming a regional oil and gas hub.
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